SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G*
(Rule 13d-102)
INFORMATION TO BE INCLUDED
IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c), AND
(d) AND AMENDMENTS THERETO
FILED PURSUANT TO RULE 13d-2
(AMENDMENT NO. 5)*
Education Management Corp.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
28140M-10-3
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(CUSIP Number)
December 31, 2014
--------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/ / Rule 13d-1(b)
/ / Rule 13d-1(c)
/X/ Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
Page 1
of 10 Pages
<Page>
13G
CUSIP NO. 28140M-10-3 Page 2 of 10 Pages
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(1) NAMES OF REPORTING PERSONS
Citigroup Capital Partners II Employee Master Fund, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) / /
(b) / /
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER OF (5) SOLE VOTING POWER 0
SHARES
----------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER 624,694
OWNED BY
----------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER 0
REPORTING
----------------------------------------------------
PERSON (8) SHARED DISPOSITIVE POWER 624,694
WITH:
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 624,694
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(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) / /
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.5%
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(12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN
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<Page>
13G
CUSIP NO. 28140M-10-3 Page 3 of 10 Pages
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(1) NAMES OF REPORTING PERSONS
Citigroup Private Equity LP
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) / /
(b) / /
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER OF (5) SOLE VOTING POWER 0
SHARES
----------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER 624,694
OWNED BY
----------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER 0
REPORTING
----------------------------------------------------
PERSON (8) SHARED DISPOSITIVE POWER 624,694
WITH:
-------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 624,694
-------------------------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) / /
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.5%
-------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN
-------------------------------------------------------------------------------
<Page>
13G
CUSIP NO. 28140M-10-3 Page 4 of 10 Pages
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(1) NAMES OF REPORTING PERSONS
Citigroup Alternative Investments LLC
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) / /
(b) / /
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER 0
SHARES
----------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER 624,694
OWNED BY
----------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER 0
REPORTING
----------------------------------------------------
PERSON (8) SHARED DISPOSITIVE POWER 624,694
WITH:
-------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 624,694
-------------------------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) / /
-------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.5%
-------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IA
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<Page>
13G
CUSIP NO. 28140M-10-3 Page 5 of 10 Pages
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(1) NAMES OF REPORTING PERSONS
Citigroup Investments Inc.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) / /
(b) / /
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER 0
SHARES
----------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER 624,694
OWNED BY
----------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER 0
REPORTING
----------------------------------------------------
PERSON (8) SHARED DISPOSITIVE POWER 624,694
WITH:
-------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 624,694
-------------------------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) / /
-------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.5%
-------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC
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<Page>
13G
CUSIP NO. 28140M-10-3 Page 6 of 10 Pages
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(1) NAMES OF REPORTING PERSONS
Citigroup Inc.
-------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) / /
(b) / /
-------------------------------------------------------------------------------
(3) SEC USE ONLY
-------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER 0
SHARES
----------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER 625,418*
OWNED BY
----------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER 0
REPORTING
----------------------------------------------------
PERSON (8) SHARED DISPOSITIVE POWER 625,418*
WITH:
-------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 625,418*
-------------------------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) / /
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.5%*
-------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC
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* Includes shares held by the other reporting persons.
<Page>
Item 1(a). Name of Issuer:
Education Management Corp
Item 1(b). Address of Issuer's Principal Executive Offices:
210 Sixth Avenue, 33rd Floor
Pittsburgh, PA 15222
Item 2(a). Name of Person Filing:
Citigroup Capital Partners II Employee Master Fund, L.P.
("Citigroup Employee Master Fund")
Citigroup Private Equity LP ("Citigroup PE")
Citigroup Alternative Investments LLC ("CAI")
Citigroup Investments Inc. ("CII")
Citigroup Inc. ("Citigroup")
Item 2(b). Address of the Principal Business Office or, if none, Residence:
The address of the principal business office of each of
Citigroup Employee Master Fund, Citigroup PE, CAI, CII and
Citigroup is:
399 Park Avenue
New York, NY 10022
Item 2(c). Citizenship:
Citigroup Employee Master Fund and Citigroup PE are Delaware
limited partnerships.
CAI, CII and Citigroup are chartered in Delaware.
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
28140M-10-3
Page 7
of 10 Pages
<Page>
Item 3. If This Statement Is Filed Pursuant to Sections 240.13d-1(b) or
240.13d-2(b) or (c), Check Whether the Person Filing Is a(n):
(a) [ ] Broker or dealer registered under Section 15 of the
Act (15 U.S.C. 78o);
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(15 U.S.C. 78c);
(c) [ ] Insurance company as defined in Section 3(a)(19) of
the Act (15 U.S.C. 78c);
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e) [ ] Investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f) [ ] Employee benefit plan or endowment fund in accordance
with Section 240.13d-1(b)(1)(ii)(F);
(g) [ ] Parent holding company or control person in accordance
with Section 240.13d-1(b)(1)(ii)(G);
(h) [ ] Savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] Church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] A non-U.S. institution in accordance with Section
240.13d-1(b)(1)(ii)(J);
(k) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(K).
If filing as a non-U.S. institution in accordance with
Section 240.13d-1(b)(1)(ii)(J), please specify the type
of institution: ____________________________ .
Item 4. Ownership. (as of December 31, 2014)
(a) Amount beneficially owned: See item 9 of cover pages
(b) Percent of class: See item 11 of cover pages
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
(ii) Shared power to vote or to direct the vote:
(iii) Sole power to dispose or to direct the disposition of:
(iv) Shared power to dispose or to direct the disposition of:
See Items 5-8 of cover pages
Page 8
of 10 Pages
<Page>
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner
of more than five percent of the class of securities, check the
following [ ].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
Citigroup PE is the general partner of Citigroup Employee Master Fund.
CAI is the sole member of Citigroup PE. CII is the sole member of CAI.
Citigroup is the sole stockholder of CII.
Item 8. Identification and Classification of Members of the Group.
See Exhibit 2.
Item 9. Notice of Dissolution of Group.
Not Applicable.
Page 9
of 10 Pages
<Page>
Item 10. Certification.
Not Applicable.
SIGNATURE.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: January 30, 2015
CITIGROUP CAPITAL PARTNERS II EMPLOYEE MASTER FUND, L.P.
By: Citigroup Private Equity LP.
its general partner
By: /s/ Matt Coeny
--------------------------------------------
Name: Matt Coeny
Title: Authorized Signatory
CITIGROUP PRIVATE EQUITY LP
By: /s/ Matt Coeny
--------------------------------------------
Name: Matt Coeny
Title: Authorized Signatory
CITIGROUP ALTERNATIVE INVESTMENTS LLC
By: /s/ Craig Barrack
--------------------------------------------
Name: Craig Barrack
Title: Secretary
CITIGROUP INVESTMENTS INC.
By: /s/ Craig Barrack
--------------------------------------------
Name: Craig Barrack
Title: Secretary
CITIGROUP INC
By: /s/ Ali L. Karshan
--------------------------------------------
Name: Ali L. Karshan
Title: Assistant Secretary
Page 10
of 10 Pages
EXHIBIT INDEX TO SCHEDULE 13G
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EXHIBIT 1
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Agreement among, Citigroup Employee Master Fund, Citigroup PE, CAI, CII and
Citigroup as to joint filing of Schedule 13G
EXHIBIT 2
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Item 8 Information